PolicyBoss.com launches ‘Live Brokerage’ and ‘Instapay’ to track commission payments

By Gloria Mathias

PolicyBoss.com, India’s InsurTech, has launched two features: Live Brokerage and InstaPay. With these features, Point-of-Sales Persons (PoSPs) registered with the company can get real-time access to their earnings from selling insurance policies and immediate realisation of the same.

Traditionally, insurance agents and PoSPs must refer to complex grids to understand the income potential from commissions. In addition, over 72 parameters need to be considered to ensure a payout. Hence, a lot of productive time goes into figuring out the accuracy and case-wise details of commissions earned.

In India, insurance PoSPs will be able to see live brokerage against each quote option they generate and upon completing the sale, they will receive their commission payment immediately.

Susheel Tejuja, Managing Director & Co-Founder of PolicyBoss.com, shared, “With the unveiling of Live Brokerage and InstaPay features, we’re ushering in a new era of support for PoSP agents. These features will provide our PoSPs with seamless commission tracking and swift commission realisation. It will unlock their full potential and drive industry innovation. We are now confident that more PoSPs will join the PolicyBoss community and revolutionise the insurance industry.”

The ‘Live Brokerage’ feature seamlessly integrates commission tracking into the policy quote page, providing real-time visibility of earnings. PoSPs get immediate information about the commission that can be earned on the said quote, ensuring transparency and clarity in their earnings. By integrating commission tracking into the quote page, Live Brokerage eliminates the need for manual tracking through separate systems or paperwork.

InstaPay tackles a common challenge faced by PoSP agents: delayed commission payments. The ‘InstaPay’ feature facilitates seamless and instant commission realisation by simplifying the payment process. With this feature, PolicyBoss.com ensures that agents receive their hard-earned commissions instantly, providing them with financial stability and motivation to excel in their roles.

The launch of features – Live Brokerage and InstaPay by PolicyBoss.com marks a milestone in the Indian insurance industry. These features provide PoSP agents with transparency, efficiency, and instant gratification for their hard work.